LONDON–(BUSINESS WIRE)–October 18, 2019–
Nexo, the blockchain’s leading regulated financial institution, is pleased to announce that it is further enhancing its collaboration with the world’s largest cryptocurrency exchange Binance. As a direct result, the trading of NEXO on Binance DEX starts today, October 18, 2019:
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191018005360/en/
NEXO Tokens Now Trading on Binance DEX (Graphic: Business Wire)
- The NEXO Token Holders can now enjoy all the benefits which have turned Binance into the industry’s favorite cryptocurrency exchange – liquidity, cutting-edge trading solutions, dedicated focus on security and decentralization.
In line with the community-led approaches of Nexo and Binance, the Binance DEX listing brings a number of benefits for the crypto ecosystem. It establishes a direct connection between NEXO and BNB holders, providing them with an efficient exchange mechanism and giving additional utility to both assets.
Thе history between Binance and Nexo dates back to July 2018 when Nexo became the first crypto lender to start accepting the BNB Token as collateral for Nexo’s Instant Crypto Credit Lines, a move hugely appreciated by Binance’s CEO CZ.
Thousands of BNB holders consistently borrow against their tokens in the most tax-efficient manner, as more and more people understand Nexo’s unique proposition of accessing the value of their crypto holdings without having to sell any on them.
“We are happy to build a direct bridge between the Binance Chain ecosystem and the Nexo crypto banking services via the NEXO/BNB trading pair on Binance DEX. Furthermore, we are glad to have the BNB native coin integrated within Nexo’s instant crypto lending platform as this creates yet another strong utility for BNB.” said Ted Lin, Binance’s Chief Growth Officer.
While Antoni Trenchev, Managing Partner at Nexo, commented:
“Binance is enormously important to the blockchain space and we are beyond excited help expanding the ecosystem, to the benefit of both BNB and NEXO Token holders, so that they can trade and borrow and soon earn in their respective cryptocurrencies as well.“
In addition to regular and growing passive income, the Nexo team is working on the NEXO Token Utilities 2.0 that will bring a plethora of new amazing utility features, including, but not limited to:
- Even better interest rates on all Nexo products
Premium features and functionalities
Higher Nexo Card Cashback
Exclusive Nexo Card designs
Invite-only access to products and events
This Utilities 2.0 overhaul, of which the Binance DEX listing is one example, will further ensure a continuously growing demand and appreciation of the NEXO Token.
Nexo is the blockchain’s leading regulated financial institution and the only provider of Instant Crypto Credit Lines, offering investors tax-efficient access to the value of their digital assets without having to sell them. Built by a team of professionals with more than a decade of FinTech success, the Nexo platform has processed more than $1 billion in under 18 months. All Nexo products are fully automated, offer an incredibly intuitive user experience and the flexibility to fit the individual financial needs of a global customer base of more than 300,000 users. Nexo boats guaranteed approvals, no hidden fees, and an unrivaled $100 million custodial insurance which have appealed to a wide variety of institutional clients, hedge funds and family offices, crypto mining enterprises, blockchain companies, exchanges, and everyday cryptocurrency investors.
Official website: https://nexo.io
Binance is a blockchain ecosystem comprised of several arms to serve the greater mission of blockchain advancement and the freedom of money. Binance Exchange is the leading global cryptocurrency exchange by trading volume, with users from over 180 countries and regions. The Binance ecosystem is also comprised of Binance Labs (venture capital arm and incubator), Binance DEX (decentralized exchange feature developed on top of its native, community-driven blockchain software system, Binance Chain), Binance Launchpad (token sale platform), Binance Academy (educational portal), Binance Research (market analysis), and Binance Charity Foundation (blockchain-powered donation platform and non-profit for aiding in sustainability).
Official website: https://www.binance.org/